Stratos Wealth Partners LTD. Buys New Position in Builders FirstSource, Inc. (NASDAQ:BLDR)
Stratos Wealth Partners LTD. bought a new position in Builders FirstSource, Inc. (NASDAQ:BLDR) during the second quarter, Holdings Channel reports. The fund bought 12,695 shares of the company’s stock, valued at approximately $194,000.
Several other hedge funds have also modified their holdings of BLDR. Ameritas Investment Partners Inc. purchased a new stake in Builders FirstSource during the first quarter worth $108,000. Invictus RG purchased a new stake in Builders FirstSource during the first quarter worth $140,000. Envestnet Asset Management Inc. boosted its stake in Builders FirstSource by 68.3% in the first quarter. Envestnet Asset Management Inc. now owns 9,511 shares of the company’s stock worth $143,000 after buying an additional 3,861 shares during the period. Nine Chapters Capital Management LLC purchased a new stake in Builders FirstSource during the first quarter worth $150,000. Finally, Gargoyle Investment Advisor L.L.C. purchased a new stake in Builders FirstSource during the first quarter worth $177,000. 84.81% of the stock is currently owned by institutional investors.
Shares of Builders FirstSource, Inc. (NASDAQ:BLDR) opened at 16.34 on Friday. The company has a 50 day moving average of $15.72 and a 200-day moving average of $14.59. Builders FirstSource, Inc. has a 12-month low of $9.04 and a 12-month high of $17.22. The firm has a market cap of $1.84 billion, a PE ratio of 10.81 and a beta of 2.16.
Builders FirstSource (NASDAQ:BLDR) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.03. Builders FirstSource had a return on equity of 43.83% and a net margin of 2.60%. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the previous year, the business posted $0.31 earnings per share. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities research analysts forecast that Builders FirstSource, Inc. will post $1.12 EPS for the current fiscal year.
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A number of analysts recently weighed in on BLDR shares. Zacks Investment Research cut shares of Builders FirstSource from a “buy” rating to a “hold” rating in a report on Monday, April 24th. Citigroup Inc. increased their price objective on shares of Builders FirstSource from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, May 11th. Wedbush reaffirmed an “outperform” rating and issued a $20.00 price objective (up previously from $19.00) on shares of Builders FirstSource in a report on Wednesday, May 17th. BidaskClub raised shares of Builders FirstSource from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, FBR & Co reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Builders FirstSource in a report on Tuesday, June 27th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $17.29.
In related news, CEO Floyd F. Sherman sold 35,000 shares of Builders FirstSource stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $14.91, for a total value of $521,850.00. Following the completion of the transaction, the chief executive officer now directly owns 633,635 shares of the company’s stock, valued at $9,447,497.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 14.60% of the company’s stock.
About Builders FirstSource
Builders FirstSource, Inc is a supplier and manufacturer of building materials, manufactured components and construction services to professional contractors, sub-contractors, remodelers and consumers. The Company’s operating segments include Northeast, Southeast, South and West. As of December 31, 2016, it operated at 400 locations in 40 states across the United States.
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